Laws are efficient if they
A. help maximize total benefits of behavior.
B. restrict all undesirable action like polluting.
C. uphold absolute property rights.
D. impose no costs on citizens.
E. work to equate the marginal benefits and marginal costs of behavior.
Answer: E
Economics
You might also like to view...
Goods that are nonrival and nonexcludable are called
A) external goods. B) public goods. C) private goods. D) free goods.
Economics
Which of the following statements is CORRECT for a monopolistically competitive firm in the short run?
A) Its total revenue is maximized. B) Its total fixed cost is 0. C) Its marginal cost is equal to its marginal revenue. D) Its price is equal to its marginal cost.
Economics